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Friday, May 12, 2006

What's in your wallet?

From CBS MarketWatch. That's the last year for the dollar against the euro. The failure of the EU constitution and numerous raises in interest rates by the Fed temporarily stopped the Bush slide. But the EU still doesn't have a constitution, rates are up, and the world is remembering that the US still has huge budget and trade deficits, really doesn't make much anymore, and is a huge net importer of oil. So why would the world want our Monopoly money anymore?

Here's the five-year effect of the W pResidency on the greenback: